FY26 Outlook: HCLTech Expects 4.0%–4.5% YoY Revenue Growth in CC

HCL Technologies Limited has outlined a measured and disciplined outlook for FY26, reflecting cautious optimism amid a gradually improving global IT spending environment. 

HCL Technologies FY26 Guidance Overview

The company expects overall revenue growth to be between 4.0% and 4.5% year-on-year in constant currency (CC). 

Services revenue, which remains the core growth driver, is projected to grow in the range of 4.75% to 5.25% YoY in CC terms. 

EBIT margins for FY26 are guided to remain healthy at 17.0% to 18.0%, underlining HCLTech’s continued focus on operational efficiency and profitability.

The guidance highlights HCLTech’s confidence in its services portfolio, supported by strong traction in digital, cloud, engineering, and AI-led solutions. Digital services are expected to remain a key contributor, supported by increasing enterprise adoption of advanced technologies and large transformation deals. 

The company’s margin guidance also reflects ongoing investments in talent, AI capabilities, and restructuring initiatives aimed at long-term efficiency.

Q3 FY26 Revenue Performance

In Q3 FY26, HCLTech reported INR revenue of ₹33,872 crore, registering a robust 6.0% quarter-on-quarter growth and a strong 13.3% year-on-year increase. In constant currency terms, revenue grew 4.2% QoQ and 4.8% YoY. USD revenue stood at $3,793 million, up 4.1% QoQ and 7.4% YoY. Services revenue in CC terms increased 1.8% QoQ and 5.0% YoY, reinforcing the company’s services-led growth strategy.

Profitability and Key Business Metrics

EBIT for the quarter came in at ₹6,285 crore, translating into an EBIT margin of 18.6%. This marked an 13.2% QoQ and 8.0% YoY increase, despite an 81 basis points impact from restructuring costs. Digital revenue grew 17.7% YoY in CC terms and now contributes 43.2% of services revenue. Advanced AI revenue reached $146 million, growing 19.9% QoQ in CC, while HCLSoftware ARR stood at $1.07 billion.

Also Read: HCLTech Declared ₹12 Interim Dividend!

Conclusion

HCL Technologies’ FY26 guidance reflects a balanced approach, prioritising steady revenue growth, resilient services performance, and margin stability. Supported by strong Q3 execution, expanding digital and AI capabilities, and disciplined cost management, HCLTech appears well-positioned to navigate near-term uncertainties while building long-term growth momentum.

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